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Motorola Mobility announced on Sunday that it is going to slash around 20% of its global workforce and will also shut down a third of its offices. This equates to about 4,000 staff, one third of which will be in the U.S., along with reduced focus on its Chicago and Sunnyvale R&D efforts. There's also a simultaneous restructuring of the company's executives.

The cost-cutting and restructuring are part of efforts to reshape Motorola Mobility, the part of Motorola that is essentially its handset business, in order to align with the needs of its new owner Google. Google bought the ailing business for $12.5 billion, possibly more for its patents than its other assets, and the company has continued to deliver losses in the weeks since the deal finally closed.